High Risk Merchant Account for PC Tech Support Industry

What is a PC Tech Support merchant account?

Whether
you want to go from your brick and mortar store into the world of
online retailing or are setting up your e-commerce store, there is
one thing that will need to think. And that is whether you will need
a merchant account. The answer to the question is a definite yes, as
there is no such thing as a business without a merchant account. If
you want to sustain your business, a merchant account is an absolute
must.

A
merchant account lets you accept credit card transactions from your
customers. This is a temporary account into which the money from the
transactions are credited into before they can be deposited into your
own bank account. Merchant accounts can either be got from a bank or
a merchant service provider.

Online
Merchants and Telemarketing Computer Virus Removal and Tech Support

Why do I need a high risk friendly merchant account payment gateway?

With
everything going online and with more and more customers resorting to
online shopping for products and services, your business can benefit
greatly from an online presence. This not only increases your
customer base but also avoids the costs involved in setting up a
brick and mortar store.

A
merchant account is not without its pros and cons. But as a general
rule of thumb, in today’s world, the pros of having a merchant
account for your online business becomes more of a necessity. So
naturally the pros far outweigh the cons.

High risk processors and banks that approve of your business

Remote
PC tech support and computer repair services are considered as
‘High-risk’ businesses in the merchant account industry.
Therefore finding a credit card processing company for your business
can be very challenging.

Here
are the reasons why your PC tech support business is considered as a
high-risk business

The
transactions are categorized as ‘card not present’

Chargebacks
are unavoidable as customers frequently dispute charges and ask for
a refund

Tech
support companies can be found in a country different from those of
its customers

Even
if you manage to find a merchant account service provider that is
willing to underwrite your PC, computer and tech support business,
they may not be safe. In the name of getting attractive lower rates,
you run the risk of possible fraudulent activities on your own
merchant account and your customer’s account. Otherwise, you will
be charged higher rates because your business is considered to have
large chargebacks.

Denied/Shutoff/closed accounts

Just
having a merchant account is not enough to sell your services online.
You need a payment gateway that is offered by payment processing
companies. These act as a link between your merchant account and your
e-commerce website.

Another
problem faced by high-risk businesses such as yours is that your
account can be denied, shut-off or terminated by these credit card
processors like FirstData or Paypal. This can happen due to the
following reasons

If
your business is considered as a high-risk business

If
your business has a potential for high chargebacks

A
poor credit history

Startup/New Business

You
will have difficulty in obtaining a merchant account if you are a
newly established company. This is because, most banks and merchant
service providers are happy to have a solid credit card transaction
history in place to reduce their own risk. So if you are newly
setting up your PC technical support and computer repair services
company, it will only make it more difficult to get a merchant
account as your business is already considered as ‘high-risk’.

Rolling
reserve

A
rolling reserve is a percentage of your credit card transactions
which is held as a reserve fund by either the bank or your merchant
service provider. This fund will serve as a contingency fund that is
held for a specific period of time to cover a possible fraud or large
chargebacks.

But
when you are a Startup/New business or a small merchant, even a small
amount of money can have an effect on your business. That is why it
is important to choose a service provider that will not require you
to maintain a rolling reserve fund. Only companies who have dealt
with high-risk companies are able to offer a ‘No rolling reserve’
option in their merchant account.

What
other options do I have?

Most
high-risk businesses resort to offshore merchant accounts as domestic
merchant account are very stringent and often reject your
application. But domestic accounts have their own advantages such as
lower rates and a better security.

A
good merchant service provider will be able to provide you with both
domestic and offshore options so that you can make use of whichever
suits your business the best.

Our
services

We
are able to provide you with the best services as we are experienced
in working with tech support and computer repair services. We also
have tie-ups with global payment processing companies, banks and
payment gateways.

You
don’t have to fill up complicated application forms and spend a lot
of time with your paperwork, as we give you the option of a simple
free online application. We also help you with setting up your
payment gateway for absolutely free. Unlike other companies, we do
not charge you with unnecessary fees like PCI compliance fees,
statement fees, termination fees etc.

Types
of tech support business that we specialize in are as follows

Startup/new
business or established businesses

Denied
or shut-off or terminated accounts

High
chargeback accounts

Merchant
accounts with bad credit

Domestic
and offshore businesses

Features
of our payment solution

Here
is a quick list of our best features

Ability
to accept credit card transactions from customers around the world
in more than 150 countries and all major currencies